Portfolios management is defined as a coordinated collection of strategic processes and decisions that together enable the most effective balance of organizational change and business as usual.
Management of Portfolios (MoP®) approaches the management of change projects and programmes from a strategic viewpoint. It provides an overview of all change activities including what is in the portfolio, what it is costing, what risks are faced, what progress is being made, and what the impact is on business as usual and the organization’s strategic objectives.
MoP® provides guidance, advice and examples of how to apply principles, practices and techniques to optimize an organization’s investment in change alongside its Business As Usual (BAU).
MoP® complements related PPM guidance developed by Best Management Practice; PRINCE2®, MSP®, P3O® and M_o_R® to help organizations and individuals with Best Practice methods to manage projects, programmes and services consistently and effectively.
Benefits of MoP®
- Answers fundamental questions: Is this investment right for us and how will it contribute to our strategic objectives?
- Helps organisations make decisions about investing in the right change initiatives and implementing them correctly
- Prioritizes the programmes and projects in terms of their contribution to the organization’s strategic objectives and overall level of risk
- Manages programmes and projects to ensure efficient and effective delivery
- Benefits realization is maximized to provide the greatest return of investment (in terms of strategic contribution and efficiency savings)
MoP® addresses 3 fundamental questions:
- Are we doing the right things?
- Are we doing those things right?
- Do we realise all the benefits in terms of more effective services and efficiency savings from the changes we are implementing?
The MoP® guidance is explained in the following key elements:
- 5 Flexible Principles
- 2 Cycles
- 12 Portfolio Management Practices
MoP® Qualification Scheme
If you want to become a Registered Practitioner, you MUST sit the MoP® Foundation Examination and then the MoP® Practitioner Examination, in that order. You can sit both exams in the same week or even day, or you can split them and sit them months (or even years!) apart.
- The Foundation is the first of the two MoP® Examinations you are required to pass to become a MoP® Practitioner. The Foundation level is to confirm that you have sufficient knowledge and understanding to work as an informed member of a Portfolio Office or in a range of portfolio management roles.
- The Practitioner level is aimed to confirm whether you have achieved sufficient understanding of how to apply and tailor the MoP® guidance, how to analyse portfolio data, documentation and roles in relation to a scenario situation.